Michael Maroone Acquires Retail Property In West Palm Beach For $12.5M From Seller Roger Dean Chevrolet
2235 Okeechobee Boulevard, West Palm Beach, FL, USA
$12,500,000
$191/SF
Building Size
65,297 SF
Asset Type
Retail
Closing
Mar 7, 2021
About this deal
AI
The retail property located at 2235 Okeechobee Boulevard in West Palm Beach has been sold for $12,500,000. The property spans 65,297 square feet and sits on 7.4 acres of land. The sale price per square foot is $191, while the price per acre is $1,689,189.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $12,500,000
- Address: 2235 Okeechobee Boulevard, West Palm Beach
- Market: West Palm Beach
The buyer of the property is Michael Maroone from Maroone USA, along with John Hoctor. The seller is Roger Dean Chevrolet.
Players
West Palm Beach Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.27%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93